Wealthstar Advisors LLC Acquires New Stake in Intuit Inc. (NASDAQ:INTU)

Wealthstar Advisors LLC bought a new position in Intuit Inc. (NASDAQ:INTU) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 925 shares of the software maker’s stock, valued at approximately $581,000.

A number of other large investors have also bought and sold shares of INTU. Brown Financial Advisors grew its stake in shares of Intuit by 0.9% during the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock worth $1,018,000 after acquiring an additional 15 shares during the period. Truvestments Capital LLC boosted its position in Intuit by 1.5% during the third quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock worth $669,000 after purchasing an additional 16 shares during the period. CVA Family Office LLC boosted its position in Intuit by 3.3% during the third quarter. CVA Family Office LLC now owns 531 shares of the software maker’s stock worth $330,000 after purchasing an additional 17 shares during the period. Chris Bulman Inc increased its stake in shares of Intuit by 1.1% in the third quarter. Chris Bulman Inc now owns 1,520 shares of the software maker’s stock worth $944,000 after purchasing an additional 17 shares in the last quarter. Finally, Freedom Day Solutions LLC raised its position in shares of Intuit by 0.4% in the third quarter. Freedom Day Solutions LLC now owns 4,186 shares of the software maker’s stock valued at $2,599,000 after purchasing an additional 17 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the transaction, the executive vice president now owns 489 shares in the company, valued at $325,664.22. The trade was a 97.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Scott D. Cook sold 75,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the sale, the insider now owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. This trade represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 293,014 shares of company stock valued at $188,992,187 in the last ninety days. Company insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Oppenheimer raised their price objective on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Barclays reduced their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Morgan Stanley increased their price objective on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. Stifel Nicolaus reduced their target price on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. upped their price target on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $726.53.

Intuit Stock Down 1.9 %

Shares of INTU opened at $578.85 on Monday. The firm has a market cap of $162.03 billion, a P/E ratio of 56.20, a P/E/G ratio of 2.91 and a beta of 1.24. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The stock has a 50 day simple moving average of $626.20 and a two-hundred day simple moving average of $631.58. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.14 EPS. On average, analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.72%. The ex-dividend date was Friday, January 10th. Intuit’s dividend payout ratio is presently 40.39%.

About Intuit

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.